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What's the best way to bring money to Singapore for relocation?

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Jessica.teng
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What's the best way to bring money to Singapore for relocation?

Postby Jessica.teng » Fri, 22 Jul 2016 7:47 pm

We will need to prepare quite a bit of money to pay tuition, housing etc at once and wondering what's the best way to do so.

I can't do HSBC as there is no more in Thailand for personal banking. And we don't have a bank setup in Singapore yet. What's the max you can carry in cash/bank draft?
I want to leverage the best exchange rate with least fee as well. I will need around 50k SGD.


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Strong Eagle
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Re: What's the best way to bring money to Singapore for relocation?

Postby Strong Eagle » Fri, 22 Jul 2016 8:31 pm

SGD 20,000 or it's equivalent in other currencies or cash equivalent, is the most you can bring in at one time without having to declare it.

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Re: What's the best way to bring money to Singapore for relocation?

Postby lessthanjay13 » Mon, 25 Jul 2016 4:07 pm

Not sure where you're moving money from, but i've used Transferwise in the past and the rates are quite good when compared to what my HSBC Premier is offering, issue is that the whole process takes a couple of days. For large amounts you can also try calling customer service at the bank directly as for transfers over $10k they will usually offer you much better rates than what you can see online through your internet banking.


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